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201204354 BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Properiy is unencumbered, except for encumbrances of record. Bonower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variarions by jurisdiction to constitute a uniform se,curity instrument covering real properiy. Uniform Covenants. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Bonower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Paymests due under the Note and this Security Instrument shall be made in U. S. currency. I�owever, if any ch�k or other instrument receiv�l by Lender as payment under the Note or this Security Instrument is return� to Lsnder impaid, Lendea may require that any or all subsequent payments due under the Note and this Security Instrument be macie in one or more of the following forms, as selected by Lender: (a) �; N3 ��Y ol�r; (c) certifier� che�k, bank check, treasurer's check or cashier's check, provided any such check is drawn upcs�t an institurioII whase �egosits are insured by � federal agency, i�trumentatity, or entity; or (d) Electronic Funds Transfer. Payments are deemec� r�ived by Lender whea r�eived at the location designated in the l�dote or at such other locarion as may be designatec� by Lender in. accordance with the notice pmvisions in 5ecrion 15. Lender may retur� aBy pay�nent or pa.rtial pay�s� if the payment or paztial gayments are iasufficient to bring the Y.aan curreut. bender maY �Pt �3' F$��t or gartial payment iasuffcierit to bring the Loan current, without waives of aay rights hereundes or prejudice to its rights to refuse such paymern or partial payments in the future, but L.ender is not abligatec� to apply such payments at the time sucl� paymeats are acceptec�. If each Feriodic P�yment is appliect as of its schedut� due daie, then �.ender need. not pay interest on unapplied funds. I.ender may hold such uaagplied funds until Borrower makes payments to briug the Loan current. If Borrower does not do so vvithin a reasonable period of time, L,ender shall either apply such funds or return them to Borrower. If not appiied earlier, such fi�ds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender sl�all relieve Borrower from making payments due under the Note and this Security In,stru�ent or performing the covenants and agreements se,cure� by this Security Instnunent. 2. Application of Payments or Proceeds. F�cept as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the luote; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the iVote. If Lender receives a payment from Borrower for a delinquent Periodic Payment wluch includes a sufficient amount to pay any late chatge due, the payment may be applied to the delinquent payment and the late chazge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. NEBRASKA-Single Famfly-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP Q Wolters Kluwer Financial Services Form 3028 1l01 VMPBINE) (1105) Page 4 of 17 �R � �i .. �i�